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Robinhood Europe: Expansion Roadmap and Alternatives

Franklin Carneiro da Silva| Updated September 29th, 2023

You have probably heard about the Robinhood app on YouTube and want to know if it’s available in Europe, right?

Robinhood is a modern and easy-to-use investment app from the US, which has introduced the concept of commission-free trading in financial products such as stocks and ETFs, alongside its biggest rivals, Webull, E-Trade, and TD Ameritrade.

Want to know if Robinhood is available in Europe, its expansion plans, and the alternatives available for European users? We’ve got you covered!

Is Robinhood Available in Europe?

Unfortunately, Robinhood is not yet available outside the US. It had planned to open in the UK in 2020, but it was postponed to the end of 2023, as stated in the Robinhood Financial Report of Q1 2023: “Our continued exploration of growth opportunities and belief that we are on track for our ambitious goal of launching brokerage services in the UK by the end of year”.

Robinhood account opening – Robinhood doesn’t work in Europe

In 2022, Robinhood set aggressive goals to “open their crypto platform to customers internationally”. With this in mind, Robinhood has signed an agreement to buy Ziglu, a London-based crypto trading app, to help accelerate their international expansion, both in the UK and across Europe.

But do not lose hope! Whether you live in Belgium, Bulgaria, Greece, Ireland, Portugal, Romania, Spain, Sweden, Switzerland, Ukraine, or any other European country, you will find some alternatives proven to be reliable (and perhaps even more reliable than Robinhood!).

The COVID-19 stock crash during the first quarter of 2020 showed some vulnerabilities in the Robinhood platform. The app collapsed several times, and investors could not trade during the most volatile markets in history (examples are Gamestop and, more recently, Dogecoin). The company is facing some lawsuits due to these outages.

Besides, Robinhood has already faced some security breaches revealing sensitive information about its clients, and, at one point, it even allowed “infinite leverage” that was shortly corrected afterward. Still, it did not avoid major losses for some clients.

After watching some of these controversies, in early 2021, EU officials said that online trading platforms such as Robinhood would not be allowed in Europe due to the structure of “payment for order flow”, which may conflict with putting clients’ interests first (more about it in Reuters).

Robinhood Alternatives in Europe

To help us answer this question, we focused on low-cost brokers, which are available in most countries in Europe. Given that, here are our suggestions:

eToro

Commission-free stock and ETF trading (other fees apply). You can also copy other traders/investors. Slick, modern, and easy for anyone to use. It is trusted by over 30 million clients worldwide.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Interactive Brokers

Founded in 1978, IBKR is one of the world’s most trustworthy brokers. It offers an enormous range of financial products (stocks, ETFs, Options,…), and low currency conversion fees (FX fees).
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

Plus500

Plus500 is one of the leading CFD brokers. It offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares.
Disclaimer: 82% of retail CFD accounts lose money.

XTB

Free stock trading up to €100.000 monthly volumes in some European countries (Czech Republic, France, Germany, Italy, Poland, Portugal, Romania, Slovakia, and Spain). It also allows you to invest in CFDs, cryptocurrencies, and forex with low fees.
Disclaimer: 81% of retail CFD accounts lose money.

DEGIRO

One of the leading online brokers in Europe due to its low-cost structure. It offers commission-free ETF trading (external fees apply) and a wide product portfolio.
Disclaimer: Investing involves risk of loss.

1# eToro

etoro logo
Visit eToroRobinhood Europe: Expansion Roadmap and Alternatives 1

74% of retail CFD accounts lose money.

eToro at a glance

0% Commissions(Stocks and ETFs)
Mobile App
Productsstocks, ETFs, Cryptos, and CFDs on Stocks, ETFs, Commodities, Forex, Indices, and Cryptocurrencies
Minimum Deposit$50 (it varies between countries)
RegulatorsFCA, CySEC and ASIC

Founded in 2007,  eToro is an international online broker with over 30 million users who can trade over 3,000 financial assets, including stocks, ETFs, Cryptos, and CFDs on Stocks, ETFs, Commodities, Forex, Indices, and Cryptocurrencies. Stocks and ETFs are traded commission-free, as a whole, or fractional shares (other fees apply).

eToro’s investment platform, accessible through both web and mobile platforms, is a social trading hub. Here, investors can engage in discussions about investments, speculations, and market news with fellow investors. eToro also allows users to replicate trading strategies (CopyTrader™) and invest in ready-made investment portfolios (Smart Portfolios) based on thematic investment strategies.

The demo account is particularly useful for a beginner ($100,000 of virtual money). It lets you have a real experience hands-on as you would be using real money. So, when switching to a real account, you will notice no difference between your training and the real-life of investing. On the downside, there is a withdrawal of $5, and the only base currency is the USD.

eToro is fully regulated and supervised by top-tier regulators such as the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia. The subsidiary in Europe, formerly known as “eToro (Europe) Ltd,” is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC).

For more details, visit our eToro review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

2# Interactive Brokers

interactive brokers logo
Visit Interactive BrokersRobinhood Europe: Expansion Roadmap and Alternatives 1

Interactive Brokers at a glance

0% Commissions
Mobile App
ProductsStocks, ETFs, Bonds, Forex, Funds, Commodities, Options, Futures and CFDs
Minimum deposit€/£/$0
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker that surpassed major financial crises, showing resilience and a rigorous risk management process.

Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That´s why we mainly endorse it to more advanced traders. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.

On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but entirely online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.

Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options, and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo account, and more.

Want to know more about Interactive Brokers? Check our Interactive Brokers Review.

3# Plus500

Robinhood Europe: Expansion Roadmap and Alternatives 3
Visit Plus500Robinhood Europe: Expansion Roadmap and Alternatives 1

82% of retail CFD accounts lose money.

Plus500 at a glance

0% Commissions(only in Plus500 CFD)
Mobile App
ProductsCFDs and, on Plus500 Invest, Real Shares
Minimum Deposit€/£/$100
RegulatorsFCA, CySEC, MAS, ASIC, FMA

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.

There are two distinct account types:

  • Plus500 CFD: It only focuses on CFD products;
  • Plus500 Invest: Where you can trade stocks (real shares);

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices, including a mobile app. All platforms are easy to use and responsive, and you can start testing the features by opening a demo account.

Their customer support is helpful and easy to assess through a chat that is always shown on the trading platform. Their spreads are low, and they offer accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0,006/share).

Finally, it is regulated by financial regulators like the FCA and CySEC, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity in which you open an account. For instance, If you open an account as a European investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis – only to retail clients from the European Union.

As a side note, Plus500 Futures, a platform only available for US users and where you can trade Futures, is also part of the Plus500 group.

Want to know more about Interactive Brokers? Check our Plus500 Review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4# XTB

XTB Review - XTB Logo
Visit XTBRobinhood Europe: Expansion Roadmap and Alternatives 1

79% of retail CFD account lose money.

XTB at a glance

0% Commissions(Stocks and ETFs - only in some jurisdictions)
Mobile App
Productsstocks, ETFs, and CFDs on stocks, Forex, indices, commodities, and cryptocurrencies
Minimum Deposit€0
RegulatorsFCA, KNF, CySEC and FSC

Founded in 2002, XTB presents itself as a market player with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) and listed on the Warsaw Stock Exchange. The platform offers 0% commissions on stocks. However, its software is more oriented to CFDs and forex trading with competitive costs.

XTB also offers other financial products such as commodities and cryptocurrencies. XTB charges high commissions on CFDs of cryptocurrencies but low costs for Forex. Besides, you will face an inactivity fee of €10/month after one year of non-trading and if you have not made any deposit in the last 90 days. Opening an account and transferring money is a quick and hassle-free process (demo account available).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investors accounts lose money when trading CFDs with this broker. It is important to understand how CFDs work and the risks involved in trading, like losing all the invested capital.

5# DEGIRO

DEGIRO logo
Visit DEGIRORobinhood Europe: Expansion Roadmap and Alternatives 1

Investing involves risk of loss.

DEGIRO at a glance

0% Commissions(a €1 flat handling fee applies)
Mobile App
ProductsStocks, Funds, ETFs, Futures, Leveraged Products, Bonds, and Warrants.
Minimum Deposit€1
RegulatorsAFM, DNB

Founded in 2013, DEGIRO is a low-cost brokerage firm that has become very popular due to its low rates! With over 2.5 million users, the innovative platform has become widely known for its “do-it-yourself” philosophy in the sense that you have everything at your disposal to start investing on your own. It offers a wide range of financial assets to trade, including stocks, ETFs, bonds, options, futures contracts, warrants, investment funds, and some leveraged products (not quite the same as CFDs. More info here).

For instance, you can trade some ETFs for free (a €1 flat handling fee – external costs – still applies) with no minimum amount required. The web trading platform is basic, but it is efficient and straightforward to use. In a matter of minutes, you get used to it. The same applies to its mobile app. On the downside, there is an absence of any significant fundamental research, a €2.50 connectivity fee applies, and pricing alerts are missing.

Regarding security, DEGIRO is the Dutch branch of flatexDEGIRO Bank AG (a German-regulated bank). In the unlikely event that the segregated assets cannot be returned to clients, DeEGIRO falls under the German Investor Compensation Scheme, which compensates any losses from non-returned assets up to 90% (with a maximum of €20,000), so do bear this in mind if you are planning to invest much larger volumes. Furthermore, any money deposited on a DEGIRO Cash Account with flatexDEGIRO Bank AG will be guaranteed up to an amount of €100,000 under the German Deposit Guarantee Scheme.

Still any doubts? Go through our DEGIRO Review!

Which platform should you choose?

Some factors you should know when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK, the range of products it allows you to trade (not all platforms allow you to trade EU stocks), among others.

The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!

A reminder that the above should not be seen as investment advice and should be considered information only. Investors should do their own research and diligence about the best-suited services and opportunities for their risk, returns, and impact strategy.

Hope we helped, and leave your comments below.

Happy investments!

Other FAQs about Robinhood

Can I use Robinhood from Europe with a VPN?

No, European investors cannot use a VPN to open a Robinhood account. Upon account opening, Robinhood requires specific documentation that proves that you are a US citizen.

How exactly does Robinhood make money?

The online broker earns money from interest earned on customers’ cash balances (money in your account not invested), by selling order information to third parties (high-frequency traders, for instance), and margin lending.

Regarding the selling of orders, the US Securities and Exchange Commission (SEC) is still investigating Robinhood for not fully disclosing its practice of selling clients’ orders to high-speed trading firms.

Until October 2018, Robinhood would not clearly state that it was receiving payments for order flows. By law, any financial company must reveal all the material facts an investor would want to know before making any investment decision.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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